INDUSTRY INSIGHTS YOUR PEERS ARE READING
Prudential Bancorp in Philadelphia has agreed to buy Polonia Bancorp in Huntingdon Valley, Pa. The $538 million-asset Prudential said in a press release Thursday that it will pay $38.1 million in cash and stock for the $312 million-asset Polonia. The deal is expected to close in the fourth quarter. Prudential said it expects "modest" tangible book value dilution that it should earn back in a year. MORE
Earnings Commercial lending Regional banks PennsylvaniaCEO William Demchak, encouraged by early returns from new branches in Dallas and Kansas City, Mo., plans to enter even more markets. MORE
Frank Leto, Bryn Mawr’s CEO, called the acquisition of Royal Bancshares of Pennsylvania a “logical choice” for his company. Capital M&A MORE
Prudential Bancorp in Philadelphia has a new chief executive. breaking_news people pa community-banking MORE
Northwest Bancshares in Warren, Pa., has agreed to buy Winans Insurance & Employee Benefits in Warren. breaking_news community-banking pa dealmaking-strategy MORE
First Resource Bank (SE Pennsylvania) Ups 12-Month CD (2.60% APY) POSTED ON THURSDAY, JUNE 14, 2018 BY Ken Tumin Availability: 12-month CD, 2.60% APY, $500 minimum deposit. Availability: Southeast Pennsylvania. Headquartered in Exton, Pennsylvania, First Resource Bank’s market area is primarily Chester and Exton Counties, but CSR stated that any Pennsylvania resident that can come into a branch is welcome to apply. | About Us. Forum. Banks. Savings Accounts. MORE
Community banking M&A Capital Growth strategies PennsylvaniaDonegal Group and Donegal Mutual Insurance are selling the holding company for Union Community Bank in Lancaster County. MORE
At least three community banks have hired lenders who once worked at banks bought by BB&T. The question is whether those lenders can coax their clients to also make a switch. recruitment m-a dealmaking-strategy pa consolidation small-business commercial-lending community-banking MORE
(The Paypers) Pennsylvania Banking and Securities Department has revealed an update on Consumer Financial Protection Initiative MORE
The $60 million acquisition will allow ACNB, which is based in Pennsylvania, to enter a new market. Community banking M&A Growth strategies Pennsylvania Maryland MORE
NexTier Bank in Butler, Pa., has tapped its chief operating officer as its next leader. people breaking_news pa succession-planning community-banking MORE
The $1.2 billion-asset NexTier said in a press release Wednesday that it will pay $2.3 million, or $531.55 a share, in cash for the $40 million-asset Manor. breaking_news community-banking pa dealmaking-strategy MORE
Pennsylvania has one of the most active Attorney General offices when it comes to bringing cases against financial companies. MORE
Pepper resides at the credit union’s Moon financial center — that’s Moon Township in Pennsylvania, about 16 miles northwest of Pittsburgh. The post Pennsylvania CU showcases industry’s first humanoid robot appeared first on CUInsight. The light-speed advancements of technology can give us glimpses of what the future may hold for the credit union industry. MORE
Community banks Fraud losses Small business lending SBA PennsylvaniaWhile Noah Bank’s CEO has been accused of self-dealing in connection with SBA loans, its chairman says the directors had a succession plan ready to go and are rallying to rescue the bank’s reputation. MORE
As part of an investigation launched earlier this year into allegations of redlining in the Philadelphia area, the Pennsylvania Attorney General Josh Shapiro recently called on mortgage borrowers and home loan applicants in the Philadelphia area to file complaints with his office “if they believe they may have been victims of redlining or experienced irregularities when looking for a mortgage or home loan.”. MORE
In this week’s episode, Pennsylvania Secretary of Banking and Securities Robin Wiessmann discusses lessons learned from the 2009 financial crisis and concerns arising from today’s market conditions and regulatory environment, shares her views on the OCC’s fintech charter and provides an update on steps that States are taking to relieve regulatory burdens on fintech companies, and explains her agency’s approach to virtual currency. MORE
ISO and agent B-to-B payments Payment processing Compliance reviews PennsylvaniaIt is important that all parties involved in construction projects not only be aware of these regulation updates and how they will impact their projects, but also what they can do to prepare for when the legislation inevitably reaches them, writes Matt Johner, president and co-founder of BankLabs. MORE
Its CEO says organic growth is preferable, but after spending five years tackling a series of enforcement actions tied to BSA compliance, the Pennsylvania bank has options. Compliance Strategic buyers Community banking AML Pennsylvania MORE
Community banking M&A Growth strategies PennsylvaniaDNB had been facing pressure from an activist investor to consider selling itself. MORE
Pennsylvania State Employees Credit Union recently built this 238,000 square foot corporate office building at a reported cost of $71 million. The credit union at the end of 2013 had $4.1 billion in assets and reported a profit of almost $17.5 million. MORE
Peters, who took over a Pennsylvania credit union that had been victimized by internal fraud, was banned Thursday by the NCUA. The post NCUA Bans Former CEO of Pennsylvania Credit Union appeared first on CUInsight. Deborah N. MORE
M&A Consolidations Community banking Regional banks PennsylvaniaWhile there are many reasons consolidation has slowed in the Keystone State over recent years, there are factors in play that could lead to a resurgence in activity. MORE
Community banking Succession planning M&A Consolidations PennsylvaniaCB Financial Services said its current CEO, Barron McCune Jr., was retiring and would be replaced by its president. MORE
Layoffs Wholesale lenders Santander Pennsylvania SpainSantander Bank's U.S. unit will be eliminating 80 mortgage-related positions as it withdraws from the third-party origination sales channel and refocuses on producing home loans through its branch network. MORE
The Pennsylvania company has agreed to buy Forney Financial Solutions. Community banking Wealth management M&A Pennsylvania MORE
Community banking Branch deals Growth strategies PennsylvaniaThe acquisition also includes $525 million in deposits and $120 million in loans. MORE
Glenn Moyer, the former Secretary of the Pennsylvania Department of Banking and Securities (pictured), spoke at a banking industry event this past week. MORE
SCCU), in Bensalem, Pennsylvania. MORE
Community banking Commercial lending Marijuana banking Pennsylvania New YorkThe company will offer deposit-related services to firms with permits for hemp and CBD. MORE
At a time when the IRS is trying to find out the identities behind bitcoin users, the Pennsylvania Allegheny County District Attorney’s office revealed it had to use bitcoin to pay a ransom to get its data back. The Forbes report noted that the data attack on the District Attorney’s office in Pennsylvania could be payback for the IRS’ actions. MORE
M&A Growth strategies Capital PennsylvaniaFirst Bank, based in New Jersey, will pay about $27 million for Bucks County Bank in a deal that is expected to close in the third quarter. MORE
How is the Pennsylvania bank trying to differentiate itself in wealth management? Community banks High net worth Growth strategies PennsylvaniaBy assembling a team of private bankers to cater to the complex needs of high-net-worth clients. MORE
A court decision brings much needed clarity to the complex world of money transmitter licensing by holding that the transmission of information alone is not engaging in the business of money transmission under Pennsylvania law, writes Anita Boomstein, a partner with Manatt, Phelps & Phillips, LLP. MORE
Community banking M&A Capital Growth strategies PennsylvaniaThe company agreed to pay $32 million for Mercersburg Financial. MORE
M&A Capital Growth strategies PennsylvaniaMid Penn agreed to pay $59 million for Scottdale Bank in a deal that is expected to close in the third quarter. MORE
Regional banks Corporate governance Corporate ethics PennsylvaniaThe rising regional player has also appointed new chairs for four board committees as it prepares for the retirement of several long-serving directors. MORE
Credit Unions in Pennsylvania have been a major reason for the success. The Credit Unions for Kids team is so grateful to the Pennsylvania Credit Unions for your strong and unwavering commitment to help us in our efforts to save kids lives. The post Pennsylvania credit unions care for kids! Community Credit Unions Management/Leadership Public Relations CU4Kids Leadership Management Pennsylvania Credit Unions MORE
In the second lawsuit of its kind, more than a dozen of the world's largest banks are accused of price fixing on roughly $486 billion of bonds issued by Fannie Mae and Freddie Mac. Law and regulation GSEs Fannie Mae Freddie Mac Bank of America Citigroup JPMorgan Chase Deutsche Bank Goldman Sachs MORE
Mid Penn, First Priority Financial to merge in $82 million deal Management CSuite Community Banking M&A. 1Management MORE
The $5 billion Pennsylvania State Employees Credit Union in Harrisburg worked with undercover police investigation that led to the arrest of three Philadelphia men who allegedly used Instagram to steal from financial institutions. MORE
Litigation Lawsuits Finance and investment-related court cases Technology Core systems Fiserv Wisconsin PennsylvaniaThe tech company denied allegations from Bessemer System Federal Credit Union regarding security issues and other problems with Fiserv's services. MORE
The CFPB has issued its September 2016 complaint report which highlights complaints about money transfers and complaints from consumers in Pennsylvania and the Philadelphia metro area. Findings regarding complaints from Pennsylvania consumers include the following: As of September 1, 2016, approximately 34,700 complaints were submitted by Pennsylvania consumers of which approximately 69 percent (about 24,100) were from Philadelphia consumers. Barbara S. Mishkin. MORE
Community banking Commercial lending Mortgages PennsylvaniaThe bank said it could record a $7 million charge in the second quarter after the client unexpectedly closed in May. MORE
Pennsylvania Related Topics BankThink
SEPTEMBER 17, 2019
Community banking Commercial lending Marijuana banking Pennsylvania New YorkThe company will offer deposit-related services to firms with permits for hemp and CBD.
PYMNTS
DECEMBER 9, 2016
At a time when the IRS is trying to find out the identities behind bitcoin users, the Pennsylvania Allegheny County District Attorney’s office revealed it had to use bitcoin to pay a ransom to get its data back. The Forbes report noted that the data attack on the District Attorney’s office in Pennsylvania could be payback for the IRS’ actions.
BankThink
APRIL 22, 2019
Community banking Branch deals Growth strategies PennsylvaniaThe acquisition also includes $525 million in deposits and $120 million in loans.
BankThink
MAY 31, 2019
Community banks Fraud losses Small business lending SBA PennsylvaniaWhile Noah Bank’s CEO has been accused of self-dealing in connection with SBA loans, its chairman says the directors had a succession plan ready to go and are rallying to rescue the bank’s reputation.
Payments Source
JUNE 27, 2019
A court decision brings much needed clarity to the complex world of money transmitter licensing by holding that the transmission of information alone is not engaging in the business of money transmission under Pennsylvania law, writes Anita Boomstein, a partner with Manatt, Phelps & Phillips, LLP.
BankThink
MAY 2, 2019
Litigation Lawsuits Finance and investment-related court cases Technology Core systems Fiserv Wisconsin PennsylvaniaThe tech company denied allegations from Bessemer System Federal Credit Union regarding security issues and other problems with Fiserv's services.
BankThink
JUNE 1, 2018
Community banking M&A Capital Growth strategies PennsylvaniaThe company agreed to pay $32 million for Mercersburg Financial.
BankThink
MARCH 30, 2017
M&A Capital Growth strategies PennsylvaniaMid Penn agreed to pay $59 million for Scottdale Bank in a deal that is expected to close in the third quarter.
BankThink
JUNE 12, 2018
Community banking M&A Capital Growth strategies PennsylvaniaDonegal Group and Donegal Mutual Insurance are selling the holding company for Union Community Bank in Lancaster County.
Payments Source
OCTOBER 29, 2018
ISO and agent B-to-B payments Payment processing Compliance reviews PennsylvaniaIt is important that all parties involved in construction projects not only be aware of these regulation updates and how they will impact their projects, but also what they can do to prepare for when the legislation inevitably reaches them, writes Matt Johner, president and co-founder of BankLabs.
BankThink
MARCH 29, 2017
M&A Growth strategies Capital PennsylvaniaFirst Bank, based in New Jersey, will pay about $27 million for Bucks County Bank in a deal that is expected to close in the third quarter.
BankThink
JULY 2, 2018
M&A Consolidations Community banking Regional banks PennsylvaniaWhile there are many reasons consolidation has slowed in the Keystone State over recent years, there are factors in play that could lead to a resurgence in activity.
ABA Community Banking
JANUARY 24, 2018
Mid Penn, First Priority Financial to merge in $82 million deal Management CSuite Community Banking M&A. 1Management
American Banker
AUGUST 8, 2016
NexTier Bank in Butler, Pa., has tapped its chief operating officer as its next leader. people breaking_news pa succession-planning community-banking
BankThink
MAY 23, 2017
Regional banks Corporate governance Corporate ethics PennsylvaniaThe rising regional player has also appointed new chairs for four board committees as it prepares for the retirement of several long-serving directors.
BankThink
MARCH 22, 2019
In the second lawsuit of its kind, more than a dozen of the world's largest banks are accused of price fixing on roughly $486 billion of bonds issued by Fannie Mae and Freddie Mac. Law and regulation GSEs Fannie Mae Freddie Mac Bank of America Citigroup JPMorgan Chase Deutsche Bank Goldman Sachs
CU Insight
DECEMBER 11, 2018
Credit Unions in Pennsylvania have been a major reason for the success. The Credit Unions for Kids team is so grateful to the Pennsylvania Credit Unions for your strong and unwavering commitment to help us in our efforts to save kids lives. The post Pennsylvania credit unions care for kids! Community Credit Unions Management/Leadership Public Relations CU4Kids Leadership Management Pennsylvania Credit Unions
CFPB Monitor
DECEMBER 20, 2018
In this week’s episode, Pennsylvania Secretary of Banking and Securities Robin Wiessmann discusses lessons learned from the 2009 financial crisis and concerns arising from today’s market conditions and regulatory environment, shares her views on the OCC’s fintech charter and provides an update on steps that States are taking to relieve regulatory burdens on fintech companies, and explains her agency’s approach to virtual currency.
CFPB Monitor
AUGUST 21, 2019
Pennsylvania has one of the most active Attorney General offices when it comes to bringing cases against financial companies.
The Paypers
APRIL 1, 2016
(The Paypers) Pennsylvania Banking and Securities Department has revealed an update on Consumer Financial Protection Initiative
American Banker
MAY 31, 2016
At least three community banks have hired lenders who once worked at banks bought by BB&T. The question is whether those lenders can coax their clients to also make a switch. recruitment m-a dealmaking-strategy pa consolidation small-business commercial-lending community-banking
Keith Leggett's Credit Union Watch
JUNE 6, 2014
Pennsylvania State Employees Credit Union recently built this 238,000 square foot corporate office building at a reported cost of $71 million. The credit union at the end of 2013 had $4.1 billion in assets and reported a profit of almost $17.5 million.
American Banker
DECEMBER 7, 2016
The $1.2 billion-asset NexTier said in a press release Wednesday that it will pay $2.3 million, or $531.55 a share, in cash for the $40 million-asset Manor. breaking_news community-banking pa dealmaking-strategy
BankThink
JANUARY 31, 2017
Frank Leto, Bryn Mawr’s CEO, called the acquisition of Royal Bancshares of Pennsylvania a “logical choice” for his company. Capital M&A
CFPB Monitor
OCTOBER 31, 2018
As part of an investigation launched earlier this year into allegations of redlining in the Philadelphia area, the Pennsylvania Attorney General Josh Shapiro recently called on mortgage borrowers and home loan applicants in the Philadelphia area to file complaints with his office “if they believe they may have been victims of redlining or experienced irregularities when looking for a mortgage or home loan.”.
American Banker
JUNE 2, 2016
Prudential Bancorp in Philadelphia has agreed to buy Polonia Bancorp in Huntingdon Valley, Pa. The $538 million-asset Prudential said in a press release Thursday that it will pay $38.1 million in cash and stock for the $312 million-asset Polonia. The deal is expected to close in the fourth quarter. Prudential said it expects "modest" tangible book value dilution that it should earn back in a year.
American Banker
MAY 4, 2016
Prudential Bancorp in Philadelphia has a new chief executive. breaking_news people pa community-banking
CU Insight
JUNE 8, 2017
The $5 billion Pennsylvania State Employees Credit Union in Harrisburg worked with undercover police investigation that led to the arrest of three Philadelphia men who allegedly used Instagram to steal from financial institutions.
BankThink
JULY 2, 2019
The $60 million acquisition will allow ACNB, which is based in Pennsylvania, to enter a new market. Community banking M&A Growth strategies Pennsylvania Maryland
American Banker
OCTOBER 17, 2016
Northwest Bancshares in Warren, Pa., has agreed to buy Winans Insurance & Employee Benefits in Warren. breaking_news community-banking pa dealmaking-strategy
BankThink
MAY 30, 2019
Its CEO says organic growth is preferable, but after spending five years tackling a series of enforcement actions tied to BSA compliance, the Pennsylvania bank has options. Compliance Strategic buyers Community banking AML Pennsylvania
BankThink
AUGUST 22, 2019
How is the Pennsylvania bank trying to differentiate itself in wealth management? Community banks High net worth Growth strategies PennsylvaniaBy assembling a team of private bankers to cater to the complex needs of high-net-worth clients.
CFPB Monitor
SEPTEMBER 28, 2016
The CFPB has issued its September 2016 complaint report which highlights complaints about money transfers and complaints from consumers in Pennsylvania and the Philadelphia metro area. Findings regarding complaints from Pennsylvania consumers include the following: As of September 1, 2016, approximately 34,700 complaints were submitted by Pennsylvania consumers of which approximately 69 percent (about 24,100) were from Philadelphia consumers. Barbara S. Mishkin.
Jeff For Banks
OCTOBER 3, 2015
Glenn Moyer, the former Secretary of the Pennsylvania Department of Banking and Securities (pictured), spoke at a banking industry event this past week.
CU Insight
MARCH 1, 2019
Peters, who took over a Pennsylvania credit union that had been victimized by internal fraud, was banned Thursday by the NCUA. The post NCUA Bans Former CEO of Pennsylvania Credit Union appeared first on CUInsight. Deborah N.
BankThink
JANUARY 3, 2019
The Pennsylvania company has agreed to buy Forney Financial Solutions. Community banking Wealth management M&A Pennsylvania
CU Insight
DECEMBER 11, 2018
Pepper resides at the credit union’s Moon financial center — that’s Moon Township in Pennsylvania, about 16 miles northwest of Pittsburgh. The post Pennsylvania CU showcases industry’s first humanoid robot appeared first on CUInsight. The light-speed advancements of technology can give us glimpses of what the future may hold for the credit union industry.
BankThink
JULY 17, 2019
Earnings Commercial lending Regional banks PennsylvaniaCEO William Demchak, encouraged by early returns from new branches in Dallas and Kansas City, Mo., plans to enter even more markets.
BankThink
JUNE 6, 2019
Community banking M&A Growth strategies PennsylvaniaDNB had been facing pressure from an activist investor to consider selling itself.
Keith Leggett's Credit Union Watch
FEBRUARY 27, 2017
SCCU), in Bensalem, Pennsylvania.
Deposit Accounts
JUNE 14, 2018
First Resource Bank (SE Pennsylvania) Ups 12-Month CD (2.60% APY) POSTED ON THURSDAY, JUNE 14, 2018 BY Ken Tumin Availability: 12-month CD, 2.60% APY, $500 minimum deposit. Availability: Southeast Pennsylvania. Headquartered in Exton, Pennsylvania, First Resource Bank’s market area is primarily Chester and Exton Counties, but CSR stated that any Pennsylvania resident that can come into a branch is welcome to apply. | About Us. Forum. Banks. Savings Accounts.
BankThink
JULY 1, 2019
Community banking Commercial lending Mortgages PennsylvaniaThe bank said it could record a $7 million charge in the second quarter after the client unexpectedly closed in May.
BankThink
AUGUST 21, 2019
Layoffs Wholesale lenders Santander Pennsylvania SpainSantander Bank's U.S. unit will be eliminating 80 mortgage-related positions as it withdraws from the third-party origination sales channel and refocuses on producing home loans through its branch network.
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